---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-007716"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T15:57:08.379962+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp reports record FY 2023 net income of $279.2M; Q4 EPS $1.58 up 41% YoY

## Summary
- Full year net income $279.2M (record), up 27% vs 2022; diluted EPS $5.64 (record), up 26%.
- Q4 net income $77.5M, up 36% YoY; diluted EPS $1.58, up 41% YoY.
- Total assets $17.0B (record), up 34% YoY; loans receivable $10.1B, up 36% YoY.
- Net interest margin 3.05% in Q4, up 6 bps from Q3 2023; efficiency ratio 33.1%.
- Completed sale of several Illinois bank branches on Jan 26, 2024 after regulatory approval.

## SEC filing metadata
- accession: 0001104659-24-007716
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465924007716/0001104659-24-007716-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465924007716/tm244347d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-007716
- JSON: https://secwatch.observer/filing/0001104659-24-007716.json
- Plain text: https://secwatch.observer/filing/0001104659-24-007716.txt

## Key facts
- Earnings Releases
  Merchants Bancorp reported the fourth quarter and full fiscal year 2023 results: net income $279.2 million, EPS $5.64.
  - Period: the fourth quarter and full fiscal year 2023
  - Net income: $279.2 million
  - EPS: $5.64
  - Result: reported results
  source text: On January 29, 2024, Merchants Bancorp issued a press release reporting its financial results for the fourth quarter and full fiscal year 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1629019/000110465924007716/0001104659-24-007716-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.